ACH Origination is “Risky” and what can the ODFI (Originating Depository Financial Institution) do to help reduce the risk when it comes to transmitting ACH transactions for their corporate Originators?
This 90-minute payments webinar will cover what is necessary for the Originator and the ODFI when it comes to ACH Origination. Agreements and the minimum agreement elements to meet compliance requirements will be discussed. Authorization requirements for debit and credit Entries will be included.
Included in the ACH training will be the details on setting exposure limits and the guidelines to ensure the ODFI is meeting their obligations to KYC (Know Your Customer) and ensuring that all proper due diligence is being met when on-boarding or continuing an existing relationship with a corporate (business) customer.
Risks involved with ACH origination will be covered on a high-level outlining what to consider when performing the due diligence for each ACH origination agreement between and ODFI and an Originator.
- Identify the “risks” involved with ACH Origination
- Define the specifics that must be included in an ACH origination agreement
- Describe the importance of setting Exposure Limits to remain in compliance with the ACH Rules
- List the criteria to help in setting Exposure Limits for each Originating customer
- Demonstrate the importance of KYC and the due diligence that goes with that compliance requirement
- Provide details on compliance with authorization requirements for the Originator
Donna, the Vice President of Education Services for Dynamic Mastership, is a Certified Master Trainer and an experienced Project Manager, with over 14 years’ experience managing education programs for organizations processing electronic payments and financial institutions operations areas. Prior to founding Dynamic Mastership 3 years ago, Donna served as the Education Services Director for UMACHA for 9 years. Donna began her career serving as Training and Development Specialist for the Federal Reserve Bank, Minneapolis.
1.5 CPE Credits & 1.8 AAP Credits